Fannie and Freddie impose new standards

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People looking to buy more expensive homes next year will have fewer
options to find financing because Fannie Mae and Freddie Mac will have
lower limits on the size of loans they can buy. The changes, effective
January 1, will lower the limit in high-priced real estate markets to
$625,500 from $729,950. Consumers who need to take out home loans above
that amount typically pay higher interest rates, and that can price
some would-be buyers out of the market.